Ovid cuts its losses on controversial Angelman syndrome drug, making its crushing development halt permanent

After a turbulent couple of years, Ovid is officially doing away with a program it had once championed in the face of heavy analyst skepticism.

Ovid has discontinued development of OV101, or gaboxadol, in Angelman syndrome and will not pursue further clinical trials for Fragile X syndrome, the company announced Monday morning. The news comes after Ovid had previously paused development in Angelman when the compound flunked a Phase III trial in December.